Thanks for your not-quite-perfect advice over the years. What am I missing with the Brompton VIP Fund? It looks like a closed-end fund trading at less than net asset value and a 16% return. Thanks.
Brompton VIP Income Fund, $6.28, symbol VIP.UN on Toronto (Units outstanding: 47.2 million; Market cap: $296.4 million), holds a portfolio of mostly income trusts, along with some common stocks and bonds.
The fund focuses on business trusts, with smaller weightings in real estate investment trusts (REITs), oil and gas trusts, power and pipeline trusts. The fund may also invest a portion (less than 10% of its value) in common shares.
The Brompton VIP Fund first sold units to the public at $10, and began trading on Toronto in February 2002.
In July 2008, the Brompton Stable Income Fund, Brompton Equal Weight Income Fund, Business Trust Equal Weight Income Fund, BG Top 100 Equal Weighted Income Fund, Brompton Tracker Fund and BG Income + Growth Split Trust were merged into the pre-existing Brompton VIP Income Fund.
The fund’s current investment allocation is as follows: business trusts (54%), oil & gas trusts (18%), REITs (16%), high-yield debt (6%) and dividend-paying Canadian stocks (6%).
The fund’s top…
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